ScriptTV uses a dual token system. The primary token, $SCPT, is used to power and govern the overall network, while $SPAY is responsible for transactions, gas fees, smart contract interactions, and rewards.
$SCPT is an ERC-20 token hosted on the Ethereum blockchain. Our community can stake $SCPT in exchange for multiple crypto rewards and NFTs, use it to manage the Script Network through our upcoming decentralized autonomous organization (DAO), or earn $SCPT by running a node and supporting the network.
The Script blockchain has two primary native tokens: the Script Token ($SCPT) and the Script Pay token ($SPAY). SCPT is a governance token used to stake the validator and Lightning nodes. On the other hand, SPAY, the utility token, is used to pay content consumers, reward node operators, and pay for transactions on the Script blockchain.
The SPAY and SCPT tokens were created to increase the platform's integrity. Moreover, they make it unlikely that the tokens will be stored for future sale. This deterrent to removing tokens from circulation and storing them in wallets means that the Script platform can keep more tokens in circulation and easily control their value.
SCPT: It is a dual-use token. It is used for governance and staking. There will be a maximum of 1 billion SCPT tokens that will be available for purchase.
SPAY: The SPAY token is used for compensations, rewards, and blockchain payments. Initially, there will be 5 billion of them that will be available for purchase. However, unlike SCPT, their supply is not strictly capped. New SPAY tokens will be minted and released into the market every year. The number of tokens that will be minted and released will depend on a protocol algorithm.